Google Sets Aside $35 Million For Carbon Removal Credits

Mar 14, 2024

Tech giant Google shared yesterday that it plans to procure a minimum of $35 million worth of carbon removal credits within the upcoming year.

The pledge comes after the U.S. Department of Energy (DOE) announced in September 2023 that it plans to provide $35 million for establishing the first building blocks of a carbon removal market.

“We’re proud to be the first company to pledge to match the DOE’s program dollar for dollar: through our own initiatives, we plan to contract for at least $35M worth of carbon removal credits over the next 12 months,” said Randy Spock, Google’s Carbon Credits and Removals Lead.

In a parallel announcement, the DOE shared details about the benefits of the initiative, as well as details about how interested companies can join up. Dubbed the Voluntary Carbon Dioxide Removal Purchase Challenge it will run parallel to the Carbon Negative Shot, which was launched in 2021, and the Carbon Dioxide Removal Purchase Pilot Prize, initiated in September 2023.

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